The Adecco Group reported a 3% increase in first-quarter revenue on an organic basis and adjusted for trading days. Despite a decrease in North America revenue in its Adecco business unit, the company saw its career transition outplacement business jump 63% on a reported basis. CEO Denis Machuel said LHH had actively captured corporate restructuring projects resulting in record high performance levels, while Ezra – their digital coaching business – also posted excellent growth.

Adecco had strong growth in Germany, Latin America and Asia Pacific, with revenue rising 13%, 18%, and 10% respectively. Meanwhile, the LHH business unit saw career transition outplacement revenue rise 63%, but revenue fell 8% year over year in its learning and development operations. Akkodis experienced 4% revenue growth, with North America revenue rising 1%, Northern Europe 8%, and Southern Europe 6%, and Asia Pacific 5%, with Japan up 10%.

Adecco Group forecast that second-quarter gross margin would be broadly in line with first-quarter levels and shares in The Adecco Group ended the day down 0.31%, with a market cap of 4.93 billion Swiss francs (US$5.55 billion). Despite an